Company Registration No. 05383046 (England and Wales)
SGCO 46 LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
SGCO 46 LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SGCO 46 LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,250,958
1,060,000
Current assets
Debtors
9,601
18,042
Cash at bank and in hand
9
2,989
9,610
21,031
Creditors: amounts falling due within one year
3
(187,664)
(180,608)
Net current liabilities
(178,054)
(159,577)
Total assets less current liabilities
1,072,904
900,423
Creditors: amounts falling due after more than one year
4
(963,446)
(997,343)
109,458
(96,920)
Capital and reserves
Called up share capital
5
1
1
Revaluation reserve
66,213
(123,787)
Profit and loss account
43,244
26,866
Shareholders' funds
109,458
(96,920)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 December 2015
M S Butterworth
Director
Company Registration No. 05383046
SGCO 46 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The director is of the opinion that sufficient funding is available to the company to enable it to meet its own liabilites as and when they fall due. In particular, the company continues to have the financial support of its bank and director. The financial statements have therefore been prepared on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% straight line
Fixtures, fittings & equipment
20% straight line
Investment Properties held as fixed assets are stated at director's valuation. Depreciation has not been provided on investment properties to comply with FRSSE.
1.5
Revenue recognition
Revenue in respect to rent from investment properties is recognised on a straight-line basis over the term of the lease.
SGCO 46 LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2014
1,060,599
Additions
1,188
Revaluation
190,000
At 31 March 2015
1,251,787
Depreciation
At 1 April 2014
599
Charge for the year
230
At 31 March 2015
829
Net book value
At 31 March 2015
1,250,958
At 31 March 2014
1,060,000
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £122,383 (2014 - £126,719).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £995,295 (2014 - £1,026,462).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
6
Ultimate parent company
The company is a direct subsidiary of Tracekarn Limited, a company registered in England and Wales.
The ultimate parent undertaking is Butterworths Developers Limited, a company registered in England and Wales.